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Here's Why Sunoco LP (SUN) Fell More Than Broader Market
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Sunoco LP (SUN - Free Report) closed the latest trading day at $56.30, indicating a -1.59% change from the previous session's end. This change lagged the S&P 500's daily loss of 1.57%. At the same time, the Dow lost 1.49%, and the tech-heavy Nasdaq lost 2.04%.
Shares of the master limited partnership witnessed a loss of 4.63% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 2.99% and the S&P 500's loss of 2.5%.
Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $1.06, reflecting a 24.82% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.13 billion, reflecting a 4.39% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.07 per share and a revenue of $22.29 billion, demonstrating changes of +38.9% and -3.37%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.12% higher within the past month. As of now, Sunoco LP holds a Zacks Rank of #2 (Buy).
In terms of valuation, Sunoco LP is presently being traded at a Forward P/E ratio of 11.3. Its industry sports an average Forward P/E of 16.57, so one might conclude that Sunoco LP is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Sunoco LP (SUN) Fell More Than Broader Market
Sunoco LP (SUN - Free Report) closed the latest trading day at $56.30, indicating a -1.59% change from the previous session's end. This change lagged the S&P 500's daily loss of 1.57%. At the same time, the Dow lost 1.49%, and the tech-heavy Nasdaq lost 2.04%.
Shares of the master limited partnership witnessed a loss of 4.63% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 2.99% and the S&P 500's loss of 2.5%.
Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $1.06, reflecting a 24.82% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.13 billion, reflecting a 4.39% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.07 per share and a revenue of $22.29 billion, demonstrating changes of +38.9% and -3.37%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.12% higher within the past month. As of now, Sunoco LP holds a Zacks Rank of #2 (Buy).
In terms of valuation, Sunoco LP is presently being traded at a Forward P/E ratio of 11.3. Its industry sports an average Forward P/E of 16.57, so one might conclude that Sunoco LP is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.